• January 12, 2004

Steven Florio, one of the most colorful and outspoken executives to rule a major consumer magazine publishing company, Monday announced plans to step down as president-CEO of Conde Nast Publications. Florio cited a desire for a less hectic lifestyle as a reason for the move, but reports attributed the decision to Florio's health. Charles Townsend, COO of Conde Nast and the largely administrative Advance Magazine Group, will succeed Florio as president-CEO, adding oversight of advertising sales and corporate marketing to his duties. That could well put Townsend in the hot seat, given Conde Nast's history of holding the line on key advertising marketplace issues. The publisher is the only one of the major that still officially maintains an advertising rate card and claims not to negotiate its advertising costs, though media buyers say Conde Nast routinely utilizes other methods, such as value-added gimmicks, to bring the effective costs of its ad pages in line with other publishers. During his 10-year reign, Florio also took firm positions on behalf of the company on key research and marketplace issues that often put him at loggerheads with top advertisers and Madison Avenue executives. For one dicey period, the nation's top advertiser, General Motors Corp., actually embargoed advertising buys in Conde Nast titles. Florio will continue to plan a strategic planning role with the company, assuming the role of vice chairman of Conde Nast's Advance Magazine Group.